Demand for ceramic matrix composites in aerospace, defense and automotive industry is the primary factor in influencing market growth.
Market Size – USD 3.52 Billion in 2018, Market Growth – CAGR of 8.5%, Market Trends – Increasing technological innovations and advancements in the market.
The global Ceramic matrix composites market is expected to reach USD 7.02 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising demand in defense, aerospace & automotive industries and technological innovations and advancements in the market, along with investments in R&D.
The ceramic matrix composites are used in the production of various components in aircraft engines such as nozzles, combustor liners, blade, and shrouds. In high-pressure and low-pressure engine zones, manufacturers use CMC over nickel alloys due to their better performance and durability. The expected growth in the demand for commercial gas turbine engines will subsequently fuel the demand for ceramic matrix composites.
In the automotive industry, CMC finds broad application in brake discs, braking systems, clutches, etc. Lightweight, very high-temperature resistance capability, high endurance to corrosion and oxidation, and other properties of CMCs also fuel the increased application of CMCs in the automotive industry. The focus of automotive industry has been on reducing the vehicle weight to improve the performance and efficiency of the vehicles, due to which, the automotive sector is replacing heavy metals and other materials with suitable lightweight materials.
The swift rise in the price of CMCs may hinder the growth of the market.
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Further key findings from the report suggest
- The market is segmented on the basis of reinforcement type into carbon/carbon (C/C), carbon/silicon carbide (C/SiC), oxide/oxide and silicon carbide/silicon carbide (SiC/SiC) and others.
- SiC/SiC is forecasted to account for the largest share in the global market, with a growth rate of 8.1% during the forecast period.
- SiC matrix composites, being commercially developed, has a high demand from the aerospace industry since it possesses properties such as high oxidation resistance compared to other matrix composites.
- The market is segmented on the basis of fibre type continuous (long) fibers and discontinuous (short) fibers.
- Discontinuous or short fiber accounted for the largest share in the global market in 2018 and is forecasted to rise with a rate of 6.1% during the forecast period.
- Silicon carbide fibers reinforce most of discontinuous or short fiber CMCs due to their high strength and stiffness (modulus of elasticity).
- Whiskers incorporated in short-fiber Ceramic Matrix Composites improve its toughness resisting to cracks propagation.
- The market is segmented on the basis of industry vertical into automotive, aerospace, defense, power & energy, and electrical & electronic, among others.
- Aerospace manufacturing industries dominated the market in 2018, and is forecasted to have a CAGR of 9.1% during the forecast period.
- Superior features such as high dynamic load resistance, high-temperature stability, greater flexibility, and excellent thermal shock resistance make ceramic matrix composites suitable for manufacturing aircraft components.
- The market is segmented on the basis of geography into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- North America accounted for the largest market share for ceramic matrix composites market and is forecasted to have a CAGR of 8.1% during the forecast period.
- The North American region, comprising the U.S. and Canada, is driven mainly by the growing aerospace & defense industry in the region, due to low interest rates, the presence of established players, and stringent environmental regulations emphasizing on the use of lightweight and fuel-efficient materials.
- Key participants include Rolls-Royce PLC., General Electric Company, SGL Group, COI Ceramics Inc., Ceramtec, Lancer Systems, United Technologies, Applied Thin Films, Inc., Coorstek Inc., Composites Horizons, Ultramet, Graftech International Ltd. (Fiber Materials Inc.), Starfire Systems Inc., and Pyromeral Systems, among others.
- The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/ceramic-matrix-composites-market
For the purpose of this report, Reports and Data have segmented global Ceramic matrix composites Market on the basis of fiber type, reinforcement type, industry vertical and region:
Reinforcement type Outlook (Volume, Kilo tons; 2018-2026, Revenue, USD Billion; 2018-2026)
- Carbon/Carbon (C/C)
- Carbon/Silicon Carbide (C/SiC)
- Silicon Carbide/ Silicon Carbide (SiC/SiC)
Fiber type Outlook (Volume, Kilo tons; 2018-2026, Revenue, USD Billion; 2018-2026)
- Continuous or long fibers
- Discontinuous or short fibers
Industry vertical Outlook (Volume, Kilo tons; 2018-2026, Revenue, USD Billion; 2018-2026)
- Energy and Power
- Electrical and Electronic Products
Regional Outlook (Volume, Kilo tons; 2018-2026, Revenue, USD Billion; 2018-2026)
- North America
- Asia Pacific
- South-east Asia
- Latin America
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